The Press: New Times's Party

After raising $1.7 million to found a biweekly magazine, Publisher
George Hirsch was understandably jubilant. His enthusiastic selling
convinced backers that his project would fill the gap that he thinks
exists between weekly newsmagazines and monthlies like Harper's and
Atlantic. He had also corralled such notable New, Recent and Old
Journalists as Jimmy Breslin, Larry L. King, J. Anthony Lukas, Joe
McGinniss, Studs Terkel, Nicholas von Hoffman and Murray Kempton. So
the promotional brochures for Hirsch's New Times were festive. A color
drawing of some of the writers in a party setting carried...